Pico signed a definitive agreement to acquire Corvil, a provider of real-time analytics and machine intelligence products for financial markets infrastructure performance and operations.
“With Pico as a premiere technology service provider to the capital markets, our clients have benefited from access to a wide range of top trading technologies within the Pico environment,” said Jarrod Yuster, Founder and CEO of Pico. “Corvil’s reputation is second to none for innovation, quality, and data analytics in the financial markets, and we have come to rely on their data to support mission-critical systems. Our motivation for acquiring Corvil is based on a commitment to our clients to deliver the industry’s best-in-class analytics and real-time insights. With Corvil, we can deliver full transparency into our clients’ trading and IT operations while addressing the challenges that come with rapid expansion into new global markets. I am thrilled to welcome the Corvil team to Pico.”
The acquisition brings together a complementary fit of talent and technical capabilities around the globe. Servicing a combined client base of over 400 leading banks, exchanges, asset managers, financial technology vendors and trading firms operating across five continents, the company will have a workforce of over 375 staff with deep expertise in low-latency technologies, automation, machine learning and data science, along with extensive domain knowledge for operating and delivering high-performance financial infrastructure on a global footprint.
“We see a new era of financial technology for the capital markets emerging. This will be defined by an on-demand and machine intelligent technology paradigm delivered as a service for infrastructure, platform, cloud, data and analytics,” said Donal Byrne, CEO of Corvil. “In the fast-paced global financial markets, you need to make your move on the markets before the markets move on you. With Pico, we are making a transformational move on the $50 billion financial technology services market.” In the combined company, Byrne will take up the position of Chief Technology Officer (CTO), reporting to Yuster, with global responsibility for product, marketing and data science.
The company will operate under the Pico brand while the Corvil name will continue to be used for its portfolio of products and services. Clients will be able to procure all currently available Corvil products as well as newly introduced Corvil-as-a-Service solutions available within Pico’s global network and infrastructure footprint. Corvil-as-a-Service is a unique service and product combination that will harness Pico’s in-house expertise to deploy, configure, and operate Corvil environments. This will greatly simplify clients’ on-boarding, reduce or eliminate up-front training and resourcing requirements, and provide cost efficiencies that may have previously been barriers to adoption.
Pico is a privately held company with a consortium of investors holding a minority ownership position, many of which are also clients, including Goldman Sachs, J.P. Morgan, UBS and Wells Fargo.
"As an investor in Pico since inception, we have been fortunate to witness their tremendous growth over the past 10 years to become a leading provider of global infrastructure services, connectivity, cloud technology and data services for capital markets. The acquisition of Corvil accelerates Pico's strategy to integrate advanced analytics-as-a-service into their global platform and positions the combined company for continued long-term growth,” said Ashwin Gupta, MD, Principal Strategic Investments, Goldman Sachs.
“We recognized the promise in Pico’s best-in-class infrastructure services early on, and have invested multiple times over the years,” said Jason Sippel, Global Head of Equities, J.P. Morgan. “The strategic rationale for a combination with Corvil’s undisputed leadership in analytics services is persuasive, and we expect it will provide the combined entity with a profound advantage in serving its customers. We look forward to continuing to work closely with Pico, both as an investor and strategic partner.”
“As capital markets businesses continue to search for new ways to leverage financial technology in a more cost-effective and rapid response manner, Pico is addressing these needs with solutions that resonate with a range of market participants,” said Todd Lopez, Head of Americas Cash Equities, UBS, both an investor in Pico and a client.
C. Thomas Richardson, Head of Market Structure and Electronic Trading Services at Wells Fargo Corporate & Investment Banking commented: “As a long-time investor in and client of Pico, we are excited to support Pico’s bold vision with this transformational acquisition of Corvil that combines Pico’s top-notch trading infrastructure with Corvil’s high-end analytical tools. We believe that this combination will enhance Pico’s compelling value proposition which, in turn, will help us service our customers better.”
The acquisition is expected to close within 30 days, subject to customary closing conditions. Financial details are not being disclosed.
The Latest
In MEAN TIME TO INSIGHT Episode 23, Shamus McGillicuddy, VP of Research, Network Infrastructure and Operations, at EMA discusses the NetOps labor shortage ...
Technology management is evolving, and in turn, so is the scope of FinOps. The FinOps Foundation recently updated their mission statement from "advancing the people who manage the value of cloud" to "advancing the people who manage the value of technology." This seemingly small change solidifies a larger evolution: FinOps practitioners have organically expanded to be focused on more than just cloud cost optimization. Today, FinOps teams are largely — and quickly — expanding their job descriptions, evolving into a critical function for managing the full value of technology ...
Enterprises are under pressure to scale AI quickly. Yet despite considerable investment, adoption continues to stall. One of the most overlooked reasons is vendor sprawl ... In reality, no organization deliberately sets out to create sprawling vendor ecosystems. More often, complexity accumulates over time through well-intentioned initiatives, such as enterprise-wide digital transformation efforts, point solutions, or decentralized sourcing strategies ...
Nearly every conversation about AI eventually circles back to compute. GPUs dominate the headlines while cloud platforms compete for workloads and model benchmarks drive investment decisions. But underneath that noise, a quieter infrastructure challenge is taking shape. The real bottleneck in enterprise AI is not processing power, it is the ability to store, manage and retrieve the relentless volumes of data that AI systems generate, consume and multiply ...
The 2026 Observability Survey from Grafana Labs paints a vivid picture of an industry maturing fast, where AI is welcomed with careful conditions, SaaS economics are reshaping spending decisions, complexity remains a defining challenge, and open standards continue to underpin it all ...
The observability industry has an evolving relationship with AI. We're not skeptics, but it's clear that trust in AI must be earned ... In Grafana Labs' annual Observability Survey, 92% said they see real value in AI surfacing anomalies before they cause downtime. Another 91% endorsed AI for forecasting and root cause analysis. So while the demand is there, customers need it to be trustworthy, as the survey also found that the practitioners most enthusiastic about AI are also the most insistent on explainability ...
In the modern enterprise, the conversation around AI has moved past skepticism toward a stage of active adoption. According to our 2026 State of IT Trends Report: The Human Side of Autonomous AI, nearly 90% of IT professionals view AI as a net positive, and this optimism is well-founded. We are seeing agentic AI move beyond simple automation to actively streamlining complex data insights and eliminating the manual toil that has long hindered innovation. However, as we integrate these autonomous agents into our ecosystems, the fundamental DNA of the IT role is evolving ...
AI workloads require an enormous amount of computing power ... What's also becoming abundantly clear is just how quickly AI's computing needs are leading to enterprise systems failure. According to Cockroach Labs' State of AI Infrastructure 2026 report, enterprise systems are much closer to failure than their organizations realize. The report ... suggests AI scale could cause widespread failures in as little as one year — making it a clear risk for business performance and reliability.
The quietest week your engineering team has ever had might also be its best. No alarms going off. No escalations. No frantic Teams or Slack threads at 2 a.m. Everything humming along exactly as it should. And somewhere in a leadership meeting, someone looks at the metrics dashboard, sees a flat line of incidents and says: "Seems like things are pretty calm over there. Do we really need all those people?" ... I've spent many years in engineering, and this pattern keeps repeating ...
The gap is widening between what teams spend on observability tools and the value they receive amid surging data volumes and budget pressures, according to The Breaking Point for Observability Leaders, a report from Imply ...